Dedicated Revenue Structures and Municipal Securitizations: Their Place in the Municipal Bond Tool Kit

Eric Blythe, Christine Pihl, Molly Shellhorn and Carmen Pigler

Municipal Finance Journal, 2021, vol. 42, issue 3, 61 - 74

Abstract: The popularity of dedicated revenue structures and securitizations has increased as issuers are enticed by their favorable borrowing terms and investors are attracted by their legal protections. Because these structures present unique considerations, this panel includes perspectives from participants on all sides of the transaction. An underwriter, an issuer, and a credit analyst discuss their thoughts on the structures, including when they are a tool to protect or repair an issuer’s other credits versus when they are a sign of potential trouble.

Date: 2021
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